23 de mayo de 2016 / 8:52 / en un año

European shares buoyed by tech, pharma stocks; Fiat, Bayer slump

* FTSEurofirst 300 gains 0.2 percent

* Fiat top loser on emission concerns

* Bayer down after making Monsanto offer

* Aixtron rallies as takeover bid agreed (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). Adds details, share prices)

By Danilo Masoni

MILAN, May 23 (Reuters) - European shares inched higher on Monday, helped by gains in tech and healthcare stocks, but Fiat Chrysler slumped on a report raising emissions issues and Bayer dropped after making an offer for Monsanto.

The pan-European FTSEurofirst 300 index, which had risen 1.3 percent in the previous session, was up 0.2 percent at 1,329.6 points by 0820 GMT.

Fiat Chrysler fell 3.7 percent, making it the top loser on the FTSEurofirst, after Bild am Sonntag newspaper said the carmaker could be prohibited from selling cars in Germany if evidence of continued disregard of emissions rules is found.

A Fiat Chrysler spokesman declined to comment on report but said all the carmaker’s vehicles are compliant with existing emissions regulations.

UBS, which has a neutral rating on the stock, said the German newspaper report was negative for sentiment but it saw no impact on earnings at the moment.

“We doubt Fiat Chrysler would be fully prohibited from selling cars in Germany, given that Volkswagen was allowed to continue selling cars even as defeat devices were found in some of its cars,” the Swiss broker said in a note.

Bayer fell 2.1 percent after the German drugs and chemicals group said it had made an offer to buy U.S. seeds company Monsanto for $62 billion in a deal that would be financed in debt and equity.

“The very large equity portion of the deal is likely sustaining the negative investor sentiment. Further, we expect Monsanto to reject the offer initially as such protracting the uncertainty around Bayer shares,” Helvea said in a note.

Among tech stocks Aixtron soared 15 percent after China’s Fujian Grand Chip Investment Fund agreed to make a bid for the German semiconductor equipment maker.

In the healthcare sector, Novartis rose 2.3 percent after new global guidelines on the treatment of heart failure strongly endorse the use of its Entresto, boosting the prospects for a drug that has struggled to gain traction.

Miners were the top sectoral losers, down 0.4 6 percent, as copper prices were mired near three-month lows after the dollar held strong on expectations the United States could raise interest rates next month. Oil sector stocks fell 0.4 percent, tracking weaker crude oil prices.

Today’s European research round-up

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Danilo Masoni)

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